TD Cowen analyst Derrick Wood has maintained their neutral stance on RMNI stock, giving a Hold rating on July 23.
Meet Your ETF AI Analyst
- Discover how TipRanks' ETF AI Analyst can help you make smarter investment decisions
- Explore ETFs TipRanks' users love and see what insights the ETF AI Analyst reveals about the ones you follow.
Derrick Wood has given his Hold rating due to a combination of factors influencing Rimini Street’s current market position. The company’s revenue growth was modest, with a slight increase of 1%, which fell just short of expectations. While there was positive momentum excluding PeopleSoft, the overall billings showed a decline, indicating some challenges in sustaining growth.
Additionally, the company’s operating margin and gross margin were slightly below estimates, reflecting increased spending in sales and marketing. Despite these challenges, there are promising developments, such as the new partnership with NOW and the resolution of litigation, which could potentially open new opportunities. However, these initiatives are still in early stages, and the impact on the company’s financial performance remains to be seen. As such, Derrick Wood maintains a cautious outlook with a Hold rating, awaiting further evidence of sustained growth and successful execution of strategic partnerships.
In another report released on July 23, TR | OpenAI – 4o also reiterated a Hold rating on the stock with a $4.50 price target.